AUD/USD Signal Update
Yesterday’s signals expired without being triggered.
Today’s AUD/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Long Trade 1
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7073.
Put the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trade 1
Go short following some bearish price action on the H1 time frame immediately upon the next touch of 0.7283.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
AUD/USD Analysis
This pair did very little yesterday and there are no material changes to the technical picture emerging at all, except that it might be that local resistance is building at around 0.7150.
We are still pretty much half way between the nearest strong and reliable support and resistance levels.
This pair probably will not be an attractive trade today.
There is nothing due today regarding either the AUD or the USD.